Verition Fund Management LLC Lowers Stock Position in Magnachip Semiconductor Co. (NYSE:MX)

Verition Fund Management LLC reduced its stake in shares of Magnachip Semiconductor Co. (NYSE:MXGet Rating) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 152,497 shares of the semiconductor company’s stock after selling 3,100 shares during the period. Verition Fund Management LLC’s holdings in Magnachip Semiconductor were worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its stake in Magnachip Semiconductor by 95.2% during the 1st quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 733 shares during the period. BNP Paribas Arbitrage SA raised its stake in Magnachip Semiconductor by 5,430.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,212 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 2,172 shares during the period. Ancora Advisors LLC bought a new stake in Magnachip Semiconductor during the 1st quarter valued at approximately $50,000. PenderFund Capital Management Ltd. bought a new stake in Magnachip Semiconductor during the 4th quarter valued at approximately $56,000. Finally, Covestor Ltd bought a new stake in Magnachip Semiconductor during the 1st quarter valued at approximately $65,000. 68.38% of the stock is owned by hedge funds and other institutional investors.

Magnachip Semiconductor Price Performance

NYSE:MX opened at $11.42 on Friday. Magnachip Semiconductor Co. has a 1 year low of $11.13 and a 1 year high of $22.28. The stock’s 50 day simple moving average is $13.50 and its two-hundred day simple moving average is $15.73. The company has a market cap of $512.76 million, a price-to-earnings ratio of 7.72, a PEG ratio of 1.45 and a beta of 1.10.

Magnachip Semiconductor (NYSE:MXGet Rating) last released its quarterly earnings data on Monday, August 8th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Magnachip Semiconductor had a return on equity of 11.34% and a net margin of 15.94%. During the same period in the prior year, the business posted $0.10 EPS. As a group, analysts anticipate that Magnachip Semiconductor Co. will post 0.3 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th.

Magnachip Semiconductor Company Profile

(Get Rating)

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.

Featured Stories

Want to see what other hedge funds are holding MX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnachip Semiconductor Co. (NYSE:MXGet Rating).

Institutional Ownership by Quarter for Magnachip Semiconductor (NYSE:MX)

Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.